Youâ€™re Likely Cash Strapped Right After Closing
Itâ€™s very likely that you wonâ€™t have a lot of cash on hand right after closing because youâ€™ll put as much as you can towards the initial downpayment, so itâ€™s crucial that you get some sort of protection if thereâ€™s a larger than marginal chances something bad could happen. Now, if all of your appliances are brand spanking new and the building is brand new, you can probably skip on the warranty. If you have a 15 year old water heater or a 20 year old HVAC, you might want to consider the relatively small cost of the home warranty as a hedge against a bad situation. Now, a busted water heater or failing HVAC isnâ€™t a hazardous situation (you can work around both of those), but imagine if your roof collapsed or if you discovered termite infestation missed by the inspector â€“ now youâ€™re talking dangerous situations you need to have resolved ASAP (assuming the warranty covers it). Different warranties cover different things, so if you do get one, be sure to double check what it covers.
Peace Of Mind Is Priceless
You might say that this is what the warranty companies want you to believe, that youâ€™re not buying insurance but instead buying peace of mind and youâ€™d be right â€“ itâ€™s what warranty companies say but it doesnâ€™t make it untrue. Some people worry more than others and for those folks, warranty buys them peace of mind and likely a few more years in their life, donâ€™t discount that. Peace of mind is a wonderful thing when you donâ€™t have it and if you can get it on the cheap, by all means get it!
Happy House Hunting!
Vincent Warren Paige, Jr.
REALTORÂ® | RE/MAX Showcase
Certified Broker Price Opinion Registered Agent (BPOR)
8934 Conroy Windermere Road | Orlando, FL 32835
Direct: 407.256.8190 | Fax: 407.264.8073